The board was not concerned with default in bank credits or about the rising NPAs. It would mainly look into private creditors interest if their money got locked. (Illustration by: C R Sasikumar)The Bankruptcy and Insolvency Code will drive growth of debt market in India, which hardly exists in corporate and business financing, Dr. MS Sahoo, Chairman, Bankruptcy Board of India told Fe. While the country has a matured and bullish equity market, the debt market in India was yet to develop. The board was not concerned with default in bank credits or about the rising NPAs. It would mainly look into private creditors interest if their money got locked.
Banks have some protection in the areas of corporate financing but non banking de…
Read the full article at: http://www.financialexpress.com/market/bankruptcy-and-insolvency-code-will-drive-creation-of-a-new-debt-market/506028/